New DD
In October 2019, Clancy Systems International, Inc. (OTCMKTS: CLSI) surprised the market by moving more than 40 million shares in only one trading session. The company's share price dynamics are also impressive. From below $0.01, the stock price spiked up and hit the $0.10 mark before moving down around the $0.05 level. The most interesting is that all happened in less than four months. The recent release of several quarterly reports seem to be behind the market move.
BUSINESS MODEL
Founded in 1984 in Colorado, Clancy Systems is focused on developing and marketing parking ticket writing systems, internet industry guides, and internet payment remittance systems. The company's customers are universities, car rental companies as well as laundry facilities in the United States.
NEW QUARTERLY REPORTS - THE TOTAL AMOUNT OF LIABILITIES DECLINED
As of June 30, 2019, the company reported $1.3 million in cash, marketable securities worth $1.09 million, and total assets of $4 million. Besides, the total amount of liabilities are worth only $14,400. The total amount of assets is approximately equal to what the company reported in 2008. As of September 2008, the total amount of assets was $4.2 million. However, the amount of liabilities was way above the company's current level. As of September 2018, the company reported total liabilities worth $0.7 million. The decrease in the amount of liabilities explains the recent share price spike.
For the twelve months ended September 30, 2018, CLSI reported revenue of $1.38 million, gross profit of $0.98 million, and cash flow from operations worth $0.38 million. These figures are way better than the company's numbers for the nine months ended June 30, 2019. Let's hope that Clancy Systems can report more revenue at the end of the year 2019.
